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Mar 6, 2013
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things change over time and what's changed over the last three years, not only retail investors which i don't hold a lot of credibility to, really sustained earnings growth, really good companies making money. still don't like the economy but i like the stock market. >> everybody agree. do you worry about revenue growth, anybody else out there? >> maria -- >> revenue -- >> what i disagree with and worry about is the consumer. not people are putting weight. what about the e-mail we hear from walmart. is that totally out of window. i want to see how the corporations are doing with a consumer getting their paycheck cut and spending more money at the gas pump. i realize the market is at new highs and that's great. over the last three years, and it continues to go up. there are better opportunities to buy, and we will see a better opportunity to put money to work this year. >> rob? >> yeah, maria, i think if you look at the third quarter last year, we're going to call that probably a trough in earnings. we had no earnings growth and back to your point about revenues, revenues very bad for
things change over time and what's changed over the last three years, not only retail investors which i don't hold a lot of credibility to, really sustained earnings growth, really good companies making money. still don't like the economy but i like the stock market. >> everybody agree. do you worry about revenue growth, anybody else out there? >> maria -- >> revenue -- >> what i disagree with and worry about is the consumer. not people are putting weight. what about the...
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Mar 13, 2013
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the only number we're watching right now is the change on the dow. if it remains green, we get a new all-time high right now. in fact, the dow is the laggard of the three major averages. the nasdaq and s&p percentage wise have better gains than the dow right now. and you might think, albert free, that the market, in honor of the new pope, would go cardinal red at the end, but we're going to remain green. how long do you stay with it? do you buy protection? >> i would be buying protection if i'm going to spend money. i would not want to create any new long positions in a market like. as i said last friday, i didn't want to go home long. you've got an opportunity to buy monday and that was it. the money on the sidelines, whether it's coming out of bonds, if you don't believe it, that's fine. but the money not going into bonds, is sitting on the sideline. every time this market dips, money is coming in. that trend is going to break, i believe, eventually, but right now i wouldn't create any new positions, but i would have some protection. >> we have tal
the only number we're watching right now is the change on the dow. if it remains green, we get a new all-time high right now. in fact, the dow is the laggard of the three major averages. the nasdaq and s&p percentage wise have better gains than the dow right now. and you might think, albert free, that the market, in honor of the new pope, would go cardinal red at the end, but we're going to remain green. how long do you stay with it? do you buy protection? >> i would be buying...
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Mar 19, 2013
03/13
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a new ride comes along and changes everything. the powerful gs. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. >>> 30 >>> 30 seconds on the clock for each guest. dean from brook stone capital management. dan from channing capital markets and dan hill from freedom financial group. gentlemen, good to see you. dean, what do you want to be prepared for tomorrow? >> thanks, maria. of course, all eyes are going to be on the fed. any good news coming from the fed may be bad news for the economy as it may price in the potential for diminishing qe activity in the future. this market is supremely addi addicted to the accommodative policy the fed has been pursuing. fedex announces earnings tomorrow. normally a great barometer for economic activity and potentially a market mover. >> dan? >> yes, certainly aside from the fomc, we're watching some earnings releases. also, oracle comes in after the close. general mills before the open. these aren't huge movers in terms of contributors
a new ride comes along and changes everything. the powerful gs. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. >>> 30 >>> 30 seconds on the clock for each guest. dean from brook stone capital management. dan from channing capital markets and dan hill from freedom financial group. gentlemen, good to see you. dean, what do you want to be prepared for tomorrow? >> thanks, maria. of course, all...
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Mar 27, 2013
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so it's this change at the margin that matters to the fed. what they talk about is, what is the outlook for the labor market. is it getting better or is it getting worse? most of them expect it to get better. they want to see proof. they want to see the numbers that it actually is getting better. that means there won't be any discussion of pulling back on quantitative easing, for at least another four to five months. but if the world, if the labor market unfolds as they expect, that conversation will be very much on the table, by the fourth quarter. >> greg, what did you make of kocherlokota's comments earlier this morning or this afternoon about the fact that the fed needs to be more aggressive, they're not being aggressive enough. he'd like to see that target unemployment rate at 5.5%. is he just trying to start the conversation around the table at the fed or not? and how many people do you think on the fed would agree with his projections? >> kocherlakota is a very interesting guy. a few years ago, you would have called him the least sympa
so it's this change at the margin that matters to the fed. what they talk about is, what is the outlook for the labor market. is it getting better or is it getting worse? most of them expect it to get better. they want to see proof. they want to see the numbers that it actually is getting better. that means there won't be any discussion of pulling back on quantitative easing, for at least another four to five months. but if the world, if the labor market unfolds as they expect, that...
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Mar 20, 2013
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if we are seeing a change, a reversal on actual corporate spending on technology, that would be a red flag. what do you see? >> yeah, well, oracle's a barometer in the space. and this is probably going to create some caution in terms of the expectations and overall i.t. spending right now. and, really, the level of priority in terms of i.t. spending. so, obviously, guidance is going to be critical. but this is going to be a little negative for the software space for tomorrow. >> all right. bottom lain here, derek, would you put new money to work right here in oracle at $33.74 a share? >> q4 tends to be their best quarter, so we would be taking advantage of weakness and buying into what historically is a strong quarter in q4. >> all right, thank you, derek, thank you, jon. i'm back with ron insana and rick santelli. ron insana, we for you on earnings, we're hear debating the quality of earnings that we're seeing and what we are going to see in 2013. what's your take on what things look like, based on what you've seen so far? >> well, actually, maria, when i look at the earnings, people
if we are seeing a change, a reversal on actual corporate spending on technology, that would be a red flag. what do you see? >> yeah, well, oracle's a barometer in the space. and this is probably going to create some caution in terms of the expectations and overall i.t. spending right now. and, really, the level of priority in terms of i.t. spending. so, obviously, guidance is going to be critical. but this is going to be a little negative for the software space for tomorrow. >> all...
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Mar 28, 2013
03/13
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microsoft's trading at 28 and change. they should earn about $2.85. it's consistently growing, consistently profitable, and well capitalized with $8 of cash per share on their balance sheet. so it's trading at roughly at about seven times p/e multiple net cash. it has a 3.4% dividend, and the dividend growth rate is 15%. >> so you get paid to own it. all right. >> absolutely. >> what about you? which stock? >> we like a global petrachemical company. they make plastics and chemicals and 30% of their production is united states. you've got shell gas or continuing cost base of the raw materials going down while expansion of their pricing on a global basis. plastics are in everything, automobiles, housing, food packaging. so stock trades at 6 1/2 times ebitda, got about 2.5% dividend yield, roe at 26% and growing. the stock can continue to grow at 10% to 15% a year. >> you're up for q-2, what do you like? >> i like the ticker conn, they're a specialty retailer of furniture, mattresses, electronics as well as appliances. got about 68 stores, the company's
microsoft's trading at 28 and change. they should earn about $2.85. it's consistently growing, consistently profitable, and well capitalized with $8 of cash per share on their balance sheet. so it's trading at roughly at about seven times p/e multiple net cash. it has a 3.4% dividend, and the dividend growth rate is 15%. >> so you get paid to own it. all right. >> absolutely. >> what about you? which stock? >> we like a global petrachemical company. they make plastics...
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Mar 1, 2013
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a new ride comes along and changes everything. the powerful gs. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. >>> how many times have you heard this line? i'm leaving to spend more time with my family. it's an old standby used any time a position of power is ousted from his perch and yesterday richard mason ripped up the proforma resignation letter and got canned. where mason ranks in the resignation letter hall of fame. jane? >> reporter: you know what should be banned, saying you're leaving to pursue other opportunities. well, duh. that's because you got fired. at least andrew mason said, quote, i'm looking for a good fat camp. joins a special camp of those who have gone out in style like jetblue flight attendant steven slater or this hotel worker who hired a marching band. >> all of you out right now. >> i'm here to tell you that i'm quitting. >> one, two, three, four. ♪ >> reporter: this is classic. this video has gotten nearly 4 million hits and merck product di
a new ride comes along and changes everything. the powerful gs. get great values on your favorite lexus models during the command performance sales event. this is the pursuit of perfection. >>> how many times have you heard this line? i'm leaving to spend more time with my family. it's an old standby used any time a position of power is ousted from his perch and yesterday richard mason ripped up the proforma resignation letter and got canned. where mason ranks in the resignation letter...
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Mar 22, 2013
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but really, the issue is the stakes have changed. what the bad guys are able to get and how they're able to get it, and therefore, the kind of damage they can cause a company have all gone up over the years. and traditional methodologies, like anti-virus software, really are not well equipped to deal with today's attacks. so those companies are going to need to make some shifts in the coming years to really take, to make sure that they're updating their technology, to protect against these more advanced kinds of attacks. >> and so, what about the opportunities in cybersecurity. in terms of investing, you named a handful of companies there, but is there an area of this business that you think is poised to grow faster than another area? >> well, i do. i think there's going to be a new area around offensive cyber. meaning that it's not going to be good enough that we try and prevent ourselves from attack, but eventually, the government and general alexander, director of the nsa, talked about this last week, where we're going to set up o
but really, the issue is the stakes have changed. what the bad guys are able to get and how they're able to get it, and therefore, the kind of damage they can cause a company have all gone up over the years. and traditional methodologies, like anti-virus software, really are not well equipped to deal with today's attacks. so those companies are going to need to make some shifts in the coming years to really take, to make sure that they're updating their technology, to protect against these more...
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Mar 11, 2013
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but robert says things have changed. paul, make the case. >> listen, we all invest in technology for obvious reasons. technology are on the cutting edge of the economy and they have usually astronomical growth rates. by the time they start paying divide dividends, they're more mature, many move from growth to value. and frankly, i don't think you're rewarded for the risk you take. just look at something like microsoft and intel. we heard how much they are he's paying in dividends. you go back to '08, they were obliterated during the bear market. 50% to 70%. so if they paid a 2% dividend, that's very little consolation when your principal is more than cut in half in a short period of time. >> right. so robert, if you invest in tech right now for dividends, are you expecting to lose money on the stock return? >> i think it's a unique situation today where technology when you look at it today compared to other sectors in the s&p that you might normally look at to pay dividends like let's say staples for example, this is a s
but robert says things have changed. paul, make the case. >> listen, we all invest in technology for obvious reasons. technology are on the cutting edge of the economy and they have usually astronomical growth rates. by the time they start paying divide dividends, they're more mature, many move from growth to value. and frankly, i don't think you're rewarded for the risk you take. just look at something like microsoft and intel. we heard how much they are he's paying in dividends. you go...
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Mar 12, 2013
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it is changing the landscape and it's changing it for the better, helping this economy grow. these are good, high-paying jobs with great benefits coming in this industry. >> is that the way you see it? >> i think those comments are spot-on. you know, there's an opportunity to generate a couple of trillion dollars in tax revenue over the next 20 years. there's an opportunity to generate millions of additional jobs. all we have to do is have a regulatory environment that allows development to take place. we have to have a fiscal system in place, instead of thinking about imposing punitive taxes on our industry. and we need to have an environment that gives us the permits that we need to produce. >> well, it's an interesting point. because, you know, it's the same idea as we're seeing in the gulf. the regulatory environment and the lack of permitting that everyone is waiting for has stopped or slowed down production. let me ask you about that. what, specifically, in terms of the regulation out there, is hurting or slowing things down? >> well, what we'd like to see is more acrea
it is changing the landscape and it's changing it for the better, helping this economy grow. these are good, high-paying jobs with great benefits coming in this industry. >> is that the way you see it? >> i think those comments are spot-on. you know, there's an opportunity to generate a couple of trillion dollars in tax revenue over the next 20 years. there's an opportunity to generate millions of additional jobs. all we have to do is have a regulatory environment that allows...
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Mar 14, 2013
03/13
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have they changed at all from their current status? >> well, look, they're changing right now, that in conservatorship, we're winding down the assets that they came into conservatorship with. the question, really, is what do we do right now to help homeowners who, through no fault of their own, are underwater, but their paying their bills and they need to refinance. we're going to need legislation to do that. we need to open up opportunities for american families to get the benefit low interest rates and refinance their mortgage. >> would you as secretary, could you foresee yourself approving using taxpayer funds to bail out a major bank? >> the purpose of dodd/frank was to protect taxpayers from ever being left holding the bill. i'm committed to implementing dodd/frank and make sure we keep that promise. we have to finish the law. i'm committed to using the authority that i have to drive that process forward. and we always have to ask the question, are we dealing with the challenges of the moment? the real problem that we saw in 2008/
have they changed at all from their current status? >> well, look, they're changing right now, that in conservatorship, we're winding down the assets that they came into conservatorship with. the question, really, is what do we do right now to help homeowners who, through no fault of their own, are underwater, but their paying their bills and they need to refinance. we're going to need legislation to do that. we need to open up opportunities for american families to get the benefit low...
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Mar 8, 2013
03/13
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think ben bernanke's term expires in early 2014, and my own personal opinion, these programs won't change until he's gone and maybe not until after he's gone, i don't know. 21 basis points what ten-year yields run on the week. of course, we all talk about how that 85 billion of qe is positive for stocks, but there's still a pulse on some level of interest rates, and i know that some very large bond managers were tweeting today, probably a good time to start considering buying treasuries. i can't disagree with that. i think that it is just unrealistic to think that we're going to get some big tipping effect with the fed's purchase program at this level and at this point in time so, you know, seeing both markets move up together, rates and stocks, was very reminiscent for me. that's the way it's supposed to work, but it won't be working this way for very much longer. >> brian, what do you think? where are you on this market ral? >> well, i think we have a lot of room to go here over the course of the year. there's a lot of retail money still on the sidelines. i think they have just begun to
think ben bernanke's term expires in early 2014, and my own personal opinion, these programs won't change until he's gone and maybe not until after he's gone, i don't know. 21 basis points what ten-year yields run on the week. of course, we all talk about how that 85 billion of qe is positive for stocks, but there's still a pulse on some level of interest rates, and i know that some very large bond managers were tweeting today, probably a good time to start considering buying treasuries. i...
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Mar 7, 2013
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>> i think great point, so to me two things need to change in europe. one is rates need to come down, and then two is the currency needs to go lower. i do believe countries like spain, if you look at their wages, they have got -- have become much more competitive. exports are growing as a percentage of gdp but you need macro tailwinds and that's what i focus on. clear to me real rates are too high and the currency needs to get lower and think about that relative to japan. japan is weak in the yen massively. seen that stimulate the stock market and create wealth for their citizens and ultimately it may stimulate some growth so i would say that there's some positive things happening, but to really get a full-scale recovery, think about asia in 1998 and 1999 when they recovered. what did they do? got their currency cheaper and got competetive and got lean and mean and in countries like indonesia and malaysia did well, and that's what europe wants. we just don't have all the tools in the tool kit. i think they will get there, but we're not there yet. >> it'
>> i think great point, so to me two things need to change in europe. one is rates need to come down, and then two is the currency needs to go lower. i do believe countries like spain, if you look at their wages, they have got -- have become much more competitive. exports are growing as a percentage of gdp but you need macro tailwinds and that's what i focus on. clear to me real rates are too high and the currency needs to get lower and think about that relative to japan. japan is weak in...
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Mar 15, 2013
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what's changed a little bit, consumer's balance sheets have improved. so their debt's down. >> and that credit recovery is helping to offset rising mortgage rates. maria? >> okay, diana, thank you so much. what does that mean for the nation's housing industry and the nation's housing chief, and where we're headed. joining right now is the secretary of housing and urban development, shaun development. secretary, good to have you on the program. >> great to be with you, maria. >> i want to get your take of what alan greenspan said earlier on cnbc. he was on earlier today and spoke the housing market. >> home ownership rates are still at the bottom of the recent decline. i'm almost certain, however, they have already turned up and i'm reasonably certain that the rise in home prices has generated a very significant and important rise in home equity. meaning the equity of homes, which has basically moved a lot of underwater mortgages into positive ground. >> you agree with that? >> absolutely. in fact, just last week, the fed released data that showed that $
what's changed a little bit, consumer's balance sheets have improved. so their debt's down. >> and that credit recovery is helping to offset rising mortgage rates. maria? >> okay, diana, thank you so much. what does that mean for the nation's housing industry and the nation's housing chief, and where we're headed. joining right now is the secretary of housing and urban development, shaun development. secretary, good to have you on the program. >> great to be with you, maria....
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Mar 26, 2013
03/13
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we'll see if that changes in the next few days. guys, back to you. >> leave the sweaters on the shelves and whee'll buy them. >> to go over that easter dress. >>> so the rocketing of orbitz's stock comes as airline stocks have been soaring this year, as global revenues have been projected at $671 billion this year with profits of $10.6 billion. >> so with the airlines flying high in an improving economy, online travel sites should be poised for growth. price waterhouse projects an increase in hotel reservations this year. joining us is orbitz's worldwide ceo, barney harford. he joins us exclusively from chicago. welcome, sir. a pleasure to have you here. >> thank you. >> we're all waiting for spring, very anxiously waiting for spring, what kind of a season do you think it's going to be? >> you know, we're certainly seeing the cold and the winter and flocking to some of the warmer destinations that we offer. if you look at spring break travel, we're seeing some top destinations appearing, orlando, las vegas, cancun, and we're seeing
we'll see if that changes in the next few days. guys, back to you. >> leave the sweaters on the shelves and whee'll buy them. >> to go over that easter dress. >>> so the rocketing of orbitz's stock comes as airline stocks have been soaring this year, as global revenues have been projected at $671 billion this year with profits of $10.6 billion. >> so with the airlines flying high in an improving economy, online travel sites should be poised for growth. price...
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Mar 18, 2013
03/13
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because this doesn't change profits or dividends. but it shows that investor behavior are affected by emotions such as a sporting defeat. because investors want to make rational decisions during a period such as march madness they should stay away. >> what's your rationale? during period of exciting tournaments and sporting events, people have knee netwojerk reac or what? to what do you attribute this finding? >> so we attribute this finding to the negative impact a sporting defeat has on investor mood. i know in theory the stock market should be driven by profits and dividends. but the people who trade stocks are not compute r. they're human beings. they're affected by emotions. when england lost to argentina in the 1998 world cup heart attacks went up over the next few days. this is something that can translate into stock market behavior. >> let's find out what matt sees when he's on the floor of the exchange. you're here on the floor when games are being played. what's the atmosphere like? do you buy into the study? >> it's funny
because this doesn't change profits or dividends. but it shows that investor behavior are affected by emotions such as a sporting defeat. because investors want to make rational decisions during a period such as march madness they should stay away. >> what's your rationale? during period of exciting tournaments and sporting events, people have knee netwojerk reac or what? to what do you attribute this finding? >> so we attribute this finding to the negative impact a sporting defeat...
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Mar 5, 2013
03/13
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we're going through a secular change in the economy. we're going through a major energy change. manufacturing is coming home. technological innovation and in turn housing, and i agree with jim, are the big positive surprises that overshadow what anybody else might be talking about. >> all right. we'll leave it there. gentlemen, great conversation. thank you so much. very interesting and important insights from all of you. appreciate it. the rally took many by surprise, but not viewers of the "closing bell." bob predicted that on this program that we would make a new high in the quarter. he's up next. later a person whose name and capitalism go together. steve forbes weighs in on how long the party on wall street may last, and before the commercial breaks today, we'll give you mini history lessons. don't worry. no quizzes here, but it was october '07 the last time the dow made an all-time high. what topped the music charts back then? it was "crank that" by soldier boy toppinging the top 100 chart. neil and buzz: for proving there's nowhere we can't go. but, at some point... giant
we're going through a secular change in the economy. we're going through a major energy change. manufacturing is coming home. technological innovation and in turn housing, and i agree with jim, are the big positive surprises that overshadow what anybody else might be talking about. >> all right. we'll leave it there. gentlemen, great conversation. thank you so much. very interesting and important insights from all of you. appreciate it. the rally took many by surprise, but not viewers of...
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Mar 25, 2013
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change your view at all? >> yeah, i know. harry has been calling for the world to come to an end for a long time. i brought my umbrella. >> what are you, mary poppins? >> i'm going to take off. look, the fact of the matter is we are actually having good news. it's hard for some people to say, really, there's fwood news? you pump $4 trillion in. you don't have the fed pulling its money out which it's not going to do any time soon. you've got to take a look at facts on the ground. we've got $900 billion sitting in money market accounts. heaven forbid if we ever get a multiplier. housing is starting to show a rise. believe it or not the best thing it says to me, we've still got a lot to go, harry, look at large cap growth. pe discount. large cap growth is selling at about 75% of what it should be. guess what? we've got con ed right there in new york selling at almost a 16 pe multiple. are you going to tell me con ed is a better deal right now than maybe an apple or some technology stocks? so very clearly what's happening is the
change your view at all? >> yeah, i know. harry has been calling for the world to come to an end for a long time. i brought my umbrella. >> what are you, mary poppins? >> i'm going to take off. look, the fact of the matter is we are actually having good news. it's hard for some people to say, really, there's fwood news? you pump $4 trillion in. you don't have the fed pulling its money out which it's not going to do any time soon. you've got to take a look at facts on the...
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Mar 21, 2013
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. >> the number you would get, it changes on a daily basis. >> constantly, constantly. >> down 87 points here. we keep waiting for this correction. do you think we're going to be there at some -- it seems that each time we get this sell-off, somebody comes in to buy it up. >> again, the programs come in and buy it right up. you would like to see a correction, you would like to see this market correct, wash out a lot of things, but i don't think it's going to happen right now. i really don't. i think this market, as long as the feds keep injecting $85 billion a month, it's going to keep drifting up. it's going to leak up, like i say. >> well, it's leaking down right now, alan valdez. thanks for being with us here. we're heading towards the low. at the low of the day, we were down 128 points. right now, down about 88 on the dow jones industrial average. and again, we honor those members of the military who have received the highest award for valor, the congressional medal of honor. they are ringing today's "closing bell." that's it for the first hour. stay tuned now for the second hour of
. >> the number you would get, it changes on a daily basis. >> constantly, constantly. >> down 87 points here. we keep waiting for this correction. do you think we're going to be there at some -- it seems that each time we get this sell-off, somebody comes in to buy it up. >> again, the programs come in and buy it right up. you would like to see a correction, you would like to see this market correct, wash out a lot of things, but i don't think it's going to happen right...
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Mar 4, 2013
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now he's completely changed his view. he says no we've got to remain loose with the monetary policy for the foreseeable future. and that's supporting this market too, don't you think? >> i would think it has a positive effect on the market. because as long as there's loose money, there's going to be -- you know, we're going to see a rising market. there's no two ways about it. it may take more because now that we're at a high level. but we're definitely going to continue to see this going through. >> i'm going back to the next hour. see you tomorrow, bill. >> have a good next hour here. we have jobs number on friday. >> yes. >> that's probably what we're all going to be focusing on for the next few days here. that'll be the big one. >> yes. >> any expectations? >> i think we're going to continue to see -- >> that's what the fed's watching as much as anything. >> i think we'll see unemployment numbers go down. i think we'll see that. where i look at it, i think one of your guests said something about late 2014 getting arou
now he's completely changed his view. he says no we've got to remain loose with the monetary policy for the foreseeable future. and that's supporting this market too, don't you think? >> i would think it has a positive effect on the market. because as long as there's loose money, there's going to be -- you know, we're going to see a rising market. there's no two ways about it. it may take more because now that we're at a high level. but we're definitely going to continue to see this going...